Trying to figure out what to do?

[Michael Lee]

I am 59 years old and a college graduate.  I had a severe stroke and a brain anurism about 41/2 years ago. I am thinking about buying tax liens and past due tax deeds on a part time basis because I am still recovering.  I have been in construction management since I graduated college,  so what do you think?  What should I do.  I have some access to retirement funds because my wife still works and has been saving for 25 years.  She is a computer programmer and is 55 years old.  What do you think?

[Rick H.]

Well, I think I'm qualified to respond on a number of levels.

In 2009 I had heart attack, emergency heart surgery to repair a ruptured aorta, massive stroke, coma, paralysis, etc. I fact, I was still in the coma 6 years ago today. 

However, it was the cognitive damage that was most distressing, not the paralysis (have both to some extent to this day). Probably why I exhibit so much contempt for those posters who piss and moan about their "problems."

Since real estate involves so much to understand, cognitive skills are essential. Having an understanding of the foundation and essentials of RE  is critical. If you are familiar with the collateral, valuation, title research and documentation, you are well in your way.

Legal aspects of tax liens (and affect on title and subordinate lien positions) is quite involved and will vary state by state. 

If you decide to go forward, I would specialize in a tight geographic area with a particular state and focus your efforts on being an expert on these counties. 

Energy level is a whole other topic. Personally, I employ strategies that work well given my own limits and adhering them, despite others not always understanding. The definition of maturity is learning how to say "no" is one word.

I don't know your personal financial situation, so you want to assess your own tolerance for risk and hassle factors in deals. 

Also, I've learned to become a capital guy to my industry and my competition, in particular. Because I'm a good marketer and have retained much influence with the CA probate legal community, I've been able to leverage the relationships and refer a substantial percentage of my leads to my competition, including deals that I fund but don't want to work for one reason or another.

Lastly, don't let others define your limits for you. Only you can decide what is a good use of your time, money, brainpower and energy!